What is the best way to send money abroad?

Bank transfer, international money orders via La Poste, specialized agencies, online currency transfer platforms... Discover the best ways to send money abroad securely from France, as well as the fastest services and those with the lowest fees.

Do you need or want to send currency to someone abroad but are unsure how to ensure they can safely receive this valuable transfer? Don’t worry, there are different ways to send money internationally. But note that none of them are free, and the fees depend on the option and transfer time you choose. Follow our guide to compare the different options and choose the one that works best for you.

Bank Transfers: Advantages and Disadvantages

How does it work? This involves a transfer from your French bank account to your recipient's account abroad. It can be done at your bank branch or online from your personal space. Simply provide the beneficiary's bank details and the amount you wish to send.

Advantages: This method is secure, easy, and can be done online. You can also get help from a consultant.

The SEPA transfer, which is a standard transfer method used across European countries (countries covered: EU + EEA + Switzerland, Andorra, Monaco, San Marino, and Vatican), is usually free. However, some banks may charge for this service.

Disadvantages: Both the sender and recipient must have a bank account. Bank transfers cannot send or receive cash.

Transfer times can vary. On average, it takes 1 to 5 business days for SEPA transfers, and for international transfers (outside the SEPA zone), the times can be much more variable.

This method is not recommended if the need for money is urgent.

For an international transfer, you must pay additional fees: a percentage of the transferred amount, currency exchange fees if the transfer is in a currency other than the euro, and sometimes receiving fees are also charged to the beneficiary.

Check with your bank to find out their rates.

Good to know: The higher the transfer amount (as long as you stay within the limits set by the banks), the lower the fees. So, avoid making "small transfers" that could end up being more expensive than a larger one-time transfer.

International Money Orders via La Poste or a Specialized Operator: Advantages and Disadvantages

How does it work? This process, formerly known as "mandat cash", allows you to send cash to someone abroad, even if they don't have a bank account.

In France, this service is provided by La Poste (via La Banque Postale), in partnership with Western Union, and other agencies specializing in such transactions, such as MoneyGram, WorldFirst...

The sender places the order (at a post office, an agency counter, or online) and pays the amount by credit card or in cash.

Once notified of the receipt of funds, the beneficiary goes to an authorized pick-up point to collect the money in local currency, after showing a valid ID and a tracking number.

Note: Depending on the amount sent and for security reasons, two forms of ID may be required.

Advantages: No need to have a bank account.

The amount can be sent and withdrawn in cash and foreign currency.

Great accessibility thanks to the large number of pick-up points worldwide: vast network of post offices and partner agencies.

The option to place an order online provides great flexibility, as it can be done 24/7.

With specialized operators, the money is available very quickly, sometimes almost instantly. For cash withdrawal, the funds can be available within about ten minutes of completing the transfer.

Disadvantages: Specialized companies charge high fees, especially for small amounts.

Fees are calculated based on several criteria: destination country, transfer speed (urgent or not), mode of transfer and receipt (cash transfer, to/from a bank account, to/from an electronic wallet), the amount you want to send, and the exchange rate.

Transfer times via postal money orders can be irregular and may take a long time.

Limits on amounts may be insufficient depending on your needs.

For example, with an international express money order via La Poste, you can send up to 3,500 € in cash (or an equivalent amount in local currency).

It sometimes happens that small post offices in rural areas run out of cash and do not have enough funds to deliver to the recipient.

Our advice: Be sure to compare the different rates offered and look out for potential hidden fees: agency commissions, administrative service fees, real or average exchange rates... The devil is in the details!

If your recipient doesn’t urgently need the money, opt for postal transfers; the fees are lower.

Digital Transfer Applications and Platforms: Advantages and Disadvantages

How does it work? FinTech has naturally focused on dematerialized money transfers. Now, all it takes is a smartphone or an internet connection to send money across the globe. You can send money via bank transfer and debit or credit card after entering the necessary information on a secure platform (Remitly, XE, TransferWise).

Depending on the chosen online international money transfer service, and after receiving an SMS or email confirming the transfer, the recipient can pick up the funds in various ways. These can be transferred to their bank account, withdrawn in cash from a partner location, transferred to an e-wallet, or even delivered to their home.

Advantages: Quick availability of funds, which can be instantaneous depending on the withdrawal method selected.

Transfer and service fees are lower, and the exchange rate applied is usually more favorable.

In most cases, these apps don’t require a minimum transfer amount.

Disadvantages: Services are only available in digital format, either via a website or a mobile app. So, you need to be comfortable with new technologies! Money transfers are only possible to certain countries, so be sure to check the list of destinations covered by the platform.

You must have a bank account to send money via these online services.

Not all apps offer the option to withdraw funds in cash from a physical withdrawal point.

Our advice: Consider using online money transfer comparison sites (Monito, bestmoney...) to compare different offers and find the best exchange rates.

READ ALSO: How to send money to Morocco from France?

Frequently Asked Questions about Sending Money Abroad

Can you send money by mail?

No. You are not allowed to send cash by mail. Like drugs or counterfeit items, coins and banknotes are even on the list of prohibited items by La Poste. Don’t take the risk!

Is there a free way to send money abroad?

Currently, money transfers to countries outside the SEPA zone are subject to fees. The amount of these fees varies depending on the method chosen to send money and the selected transfer speed.

Does the cash order service still exist?

No, the "mandat cash" service, a historic service from La Poste, was discontinued in 2018. However, it is now possible to send and receive international money orders through money transfer companies by visiting a post office.